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BOJ's Kataoka calls for pre-emptive monetary easing - Metro US

BOJ’s Kataoka calls for pre-emptive monetary easing

FILE PHOTO -Bank of Japan (BOJ) new policy board members Goushi Kataoka attends a news conference at BOJ headquarters in Tokyo, Japan July 25, 2017. REUTERS/Issei Kato
Reuters

HAKODATE, Japan (Reuters) – Bank of Japan board member Goushi Kataoka said on Wednesday the central bank must pre-emptively ease monetary policy to fend off risks to the country’s economic and price outlooks.

“When there is a distance between our price target and actual inflation, it’s important to respond pre-emptively instead of waiting until we confirm that the price trend has changed,” he said in a speech to business leaders in Hakodate, northern Japan.

Kataoka, a vocal advocate of aggressive monetary easing, has consistently voted against keeping policy steady. In July, he argued the BOJ should lower its short-term interest rate target. The proposal was not put to a vote.

(Reporting by Leika Kihara; Editing by Chang-Ran Kim)

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